HYPE slid over 4% to $40.5 on June 18 following a major whale sell-off, even as institutional confidence in the token continues to grow.
Hyperliquid HYPE $39.30 24h volatility: 1.2% Market cap: $13.12 B Vol. 24h: $492.10 M is trading around $40.5 on June 18, down over 4% in the past 24 hours after peaking at $45.5 earlier this week. The token’s market capitalization also fell 4.5% to $13.52 billion as broader crypto markets faced selling pressure.
This drop coincides with a $5.31 million sell-off by a HYPE whale. According to the on-chain data shared by LookonChain, whale wallet 0x4F12 unstaked and sold its entire HYPE holdings, 126,772 tokens, at an average price of $42.
Whale 0x4F12 unstaked and sold all 126,772 $HYPE($5.31M) at an average price of $42, making a profit of ~$2.89M.https://t.co/eJ3ecrS93t pic.twitter.com/k8o9Se0Ss2
— Lookonchain (@lookonchain) June 18, 2025
The trader booked a profit of around $2.89 million, contributing to increased short-term supply.
Despite the dip, institutional players remain bullish. Nasdaq-listed biotech firm Eyenovia announced a $50 million private placement on June 17 to build a strategic reserve of HYPE tokens.
The firm plans to purchase over 1 million tokens (worth around $40.1 million) and stake them on Anchorage Digital’s platform. Eyenovia will also undergo a full rebrand to “Hyperion DeFi” under the ticker HYPD.
HYPE Price Outlook
On the 4-hour HYPE price chart, the MACD has crossed into negative territory, with the MACD line below the signal line. However, the histogram shows weak selling pressure, hinting at a possible bullish reversal.
HYPE price chart with MACD | Source: TradingView
Bollinger Bands are slightly narrowing, suggesting consolidation and a potential squeeze. The price is currently testing the lower band at $38.25, indicating oversold conditions. A bounce from the lower band could trigger a short-term rally back to the mid-band at $41.6 or the upper band at $44.9.
HYPE price chart with RSI and Bollinger Bands | Source: Trading View
Meanwhile, the RSI is currently at 45.6, indicating neutral momentum with a slight bearish tilt, as it failed to sustain above midline during the last bounce attempt. If HYPE’s RSI reclaims above 50, traders could expect resistance around $44.00 and then $45.50. A decisive break above $45.50 could trigger a move toward new highs.
Short-Term Chop, Long-Term Optimism
Despite current weakness, social sentiment around HYPE remains bullish. Analysts suggest the whale-induced sell-off may lead to a minor dip as the market digests the increased supply.
However, strong buying interest around the $39–$40 zone could offer support, especially with institutions doubling down on their HYPE reserves.
$HYPE looking solid to me!
Currently trading above $42 its less than a dollar from its all‑time high.
You can feel the shift because Futures activity is breaking records, and more capital keeps flowing in.
Binance US teasing a listing could be the next big unlock.
Numbers… pic.twitter.com/H4LpVhFo96
— Henry (@LordOfAlts) June 17, 2025
Popular crypto expert Henry noted on X that HYPE has been forming an upward parallel channel on the 2-hour chart since May 7. He expects the 11th largest cryptocurrency to continue its upward trajectory, setting a price target above $55 by June-end.
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